Business registration procedures according to the 2020 Law on Enterprises and the necessary improvements for those procedures

Abstract

According to economic experts, barriers in market entry are the main reason for less attractive market development indexes. This explains why business registration procedures is one of the most thoroughly reformed procedures in Vietnam and other countries. The 2020 Law on Enterprises, which took effect from January 1, 2021, has significantly simplified the business registration procedures. This article hightlights the new changes to business registration procedures under the 2020 Law on Enterprises and proposes some solutions to further improve this procedures based on the experience of other countries in reforming business registration procedures.